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Where can I learn more about Price Action like those in James16 charts? 9 replies

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james16 Chart Thread

  • #46,241
  • Oct 18, 2009 3:56am Oct 18, 2009 3:56am
Quoting mbqb11
Jim you are never off man, ever.

Mike
It sure gives me (and others) great peace of mind to have you around, at the ready, to keeps us all on the right track.
Indicators show the past. Price Action "Indicates" the future.
  • #46,242
  • Oct 18, 2009 4:03am Oct 18, 2009 4:03am
Hi Jarroo,

For some reason I am thinking that adding just a little bit more confidence, just a little, will do your trading good.

Hope you do not mind me saying, I found your assessment right on myself

Dale
  • #46,243
  • Oct 18, 2009 4:05am Oct 18, 2009 4:05am
Quoting Dale
Hi Jarroo,

For some reason I am thinking that adding just a little bit more confidence, just a little, will do your trading good.

Hope you do not mind me saying, I found your assessment right on myself

Dale
Thanks Dale.
Indicators show the past. Price Action "Indicates" the future.
  • #46,244
  • Oct 18, 2009 4:10am Oct 18, 2009 4:10am
My best Dale trade (Double Inside Bar) so far. Weekly Eur/Gbp.
Attached Image (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #46,245
  • Edited 4:36am Oct 18, 2009 4:20am | Edited 4:36am
My Favorite part about these trades is how often I can cover my risk and get into a "free trade".

Also just, for clarity for those who read this post; Double Inside bars have been around for a long time, I just thought they would work well on the 4 hour time frame in the forex market.

Best Regards


Dale
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  • #46,246
  • Oct 18, 2009 4:25am Oct 18, 2009 4:25am
Quoting Dale
My Favorite part about these trades are how many of them I can cover my risk and get into a "free trade".
Yes indeed.

Also, since they are a pausing or indecision in Price ( momentum building maybe?) they do tend to give a nice hard, robust break. And you know I love when that happens.
Indicators show the past. Price Action "Indicates" the future.
  • #46,247
  • Oct 18, 2009 5:03am Oct 18, 2009 5:03am
Quoting Dale
My Favorite part about these trades is how often I can cover my risk and get into a "free trade".

Dale
Was just wondering how you guys play this IB's with some longer shadow??
Still on hard break or on a pullback?
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  • #46,248
  • Oct 18, 2009 5:16am Oct 18, 2009 5:16am
Hi gasgas,


You need two inside bars, one inside the other, then I play a break of the second inside bar. Remember this is just an entry only.

Here is an example of one way to manage the trade.


Best regards

Dale
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  • #46,249
  • Oct 18, 2009 5:43am Oct 18, 2009 5:43am
Quoting Dale
Hi gasgas,
Here is an example of one way to manage the trade.


Best regards

Dale
Aha...I get it now. But does second IB still quifies as inside bar, becouse it has close lover than first inside bar?

Thanks Dale
  • #46,250
  • Edited 6:32am Oct 18, 2009 6:12am | Edited 6:32am
Hi gasgas,


Only highs and lows are considered for determining inside bars.

Here is a indicator for you.



Best regards

Dale

Here is a indicator for you
Attached File(s)
File Type: mq4 Inside post.mq4   3 KB | 664 downloads
  • #46,251
  • Oct 18, 2009 6:43am Oct 18, 2009 6:43am
Quoting Dale
Hi gasgas,

Only highs and lows are considered for determining inside bars.
Note taken....I just like to see open&close within previous bar open&close. Gives me more confidence in a trade.
Thanks Dale 4 the indi., will try it for sure.

BTW, anyone watching that...

Regards
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  • #46,252
  • Oct 18, 2009 8:56am Oct 18, 2009 8:56am
Quoting jarroo
It sure gives me (and others) great peace of mind to have you around, at the ready, to keeps us all on the right track.
Amen. I am really glad to have you both around.
  • #46,253
  • Oct 18, 2009 9:20am Oct 18, 2009 9:20am
Quoting mbqb11
you are doing great man
hey thanx Mike!! appreciated!
cheers
jon
PATIENCE... DISCIPLINE
  • #46,254
  • Oct 18, 2009 9:22am Oct 18, 2009 9:22am
Quoting TiaForex
Amen. I am really glad to have you both around.
Well i had that exact reply in my mind (including the word Amen!! )but you beat me too it!
not surprising someone did
jon
PATIENCE... DISCIPLINE
  • #46,255
  • Oct 18, 2009 11:41am Oct 18, 2009 11:41am
Quoting g_j_hook@yah
hi guys, heres something i will watching next week
not the best locations and i would have liked to see more confluence ....
jon
p.s. ignore the trades they are on demo only

Thanks jon.

Also, nice work on the Eur/Gbp. This is also a 2 Week PB which has a nice size.

A little trick I do is look at the Monthly chart at the end of each week to see 2 or 3 week combo PAs. And on the weekly charts on Tues., Wed. and Thurs to see Daily combos.
Attached Image(s) (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #46,256
  • Oct 18, 2009 11:42am Oct 18, 2009 11:42am
Quoting TiaForex
Amen. I am really glad to have you both around.
Thanks Aaron.
Indicators show the past. Price Action "Indicates" the future.
  • #46,257
  • Oct 18, 2009 12:19pm Oct 18, 2009 12:19pm
Quoting jarroo
A little trick I do is look at the Monthly chart at the end of each week to see 2 or 3 week combo PAs. And on the weekly charts on Tues., Wed. and Thurs to see Daily combos.

Like it, thanks
  • #46,258
  • Oct 18, 2009 1:20pm Oct 18, 2009 1:20pm
Quoting TiaForex
Amen. I am really glad to have you both around.
That goes For me too. Your posts have helped me a lot since i joined the thread. Thanks for everything you both do!


jim
"Luck favors the prepared mind"
  • #46,259
  • Edited 3:53pm Oct 18, 2009 3:41pm | Edited 3:53pm
We have a nice move up, then price forming BEOB, but unfortunatelly no divergence. Anyone still considering?
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  • #46,260
  • Oct 18, 2009 3:57pm Oct 18, 2009 3:57pm
i use RSI and there is div on that if u want to be technical about it , there is a slight divergence on your stochs. price made a higher high but but stoch basically stayed level or even rounded off abit, however its not the huge divergence you sometimes see
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